Photo: airliners.net / Thomas MerklReading Time: 1 minute
Increase in aircraft deliveries and high demand for lightweight aircraft doors are key factors driving the growth of the aircraft doors market.
The aircraft doors market is projected to grow from USD 3.68 billion in 2017 to USD 5.22 billion by 2022, at a CAGR of 7.25% during the forecast period. Factors such as rise in aircraft deliveries and increased focus on maintenance of aircraft doors are projected to drive the growth of the aircraft doors market. Stringent regulatory environment is acting as a key restraint to the growth of the market.
Based on application, the commercial aviation segment is projected to lead the aircraft doors market during the forecast period.
The commercial aviation application segment is expected to lead the aircraft doors from 2017 to 2022. The growth of the commercial aviation segment can be attributed to the rise in commercial aircraft orders, owing to the increasing air passenger traffic, especially in the Middle East and Asia Pacific.
North America is estimated to account for the largest share of the aircraft doors market in 2017.
The presence of major aircraft manufacturers and airlines, such as Boeing (US), Lockheed Martin (US), Bombardier (Canada), Bell Helicopter (US), Sikorsky Aircraft (US), American Airlines (US), and United Airlines (US) in North America is projected to drive the growth of the aircraft doors market in this region.The aircraft doors market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period.
This growth can be attributed to the increase in aircraft production in countries, such as India and China.